Oman’s GDP increases by 10.1% to reach OMR15.3 bn market price during Q2 2021
Oman’s gross domestic product (GDP) increased by 10.1 percent and is expected to reach the market price of OMR15.3 billion at the end of the second quarter of 2021 compared to the corresponding period last year, according to media reports. There was also a rise in petroleum activities by 8.7 percent at the end of the second quarter registering OMR4.4 billion compared to OMR4.07 billion at the end of the second quarter of 2021.
According to the report released by the National Centre of Statistics and Information (NCSI), the crude oil sale at the end of the second quarter registered an increase of 11 percent, standing at OMR3.723 billion while natural gas registered a drop of 2 percent with OMR 705.4 million during the same period against OMR719.8 million last year.
The non-oil sector went up by 11.1 percent at the end of second quarter reaching OMR11.45 billion compared to RO10.30 billion at the end of the same period in 2020. Additionally, service activities took the front seat, reaching OMR7.91 billion, an increase of 8 percent, compared to the same period in 2020. Communication activities decreased by 6.8 percent at the end of June 2021 along with public administration and defence activities going down by 0.6 percent.
Transportation and storage activities went up by 23.3 percent. Real estate, vocations, technology, and administration services rose by 21 percent. Wholesale and retail trade went up by 19 percent and financial and insurance activities by 11.5 percent. Other services showed an increase of 7 percent residency activities and food services also registered an increase of 1.1 percent.
Industrial activities reached OMR3.12 billion by the end of the second quarter of 2021 compared to OMR2.78 billion during the same period in 2020. Mining and quarrying also increased by 7.7 percent along with manufacturing that went up by 34.2 percent and other manufacturing industries by 43.3 percent.